LTGC Colorado Title Practice Test

These questions are part of the practice quiz. Start practicing

• The refusal of a company's agent to submit to examination or to comply with any reasonable written request shall be a:
• A title insurance company and title insurance agent may not use a rate unless which condition is met?
• What is the document called that commits to issue a title insurance policy?
• The title commitment is formed in connection with an application for title insurance and includes a report, an application, and a statement.
• Which statement best describes a foreign title insurance company?
• An affiliated business arrangement that creates a title entity is required to do what?
• Which term completes the sentence: Builder discounts that are properly filed and justified in the rate or fee filings are ______, however volume discounts are not permissible.
• During the loan process, the entity that provides funds to the borrower is called the?
• A record owner conveyed 'THE N1/2 OF SECTION 18, TOWNSHIP 4 SOUTH, RANGE 67 WEST'. Which additional interests were transferred?
• Which statement best describes a good metes and bounds description?
• What must a title company do before earning interest in their escrow account?
• Which statement correctly identifies a type of title insurer by its origin?
• The Insurance Commissioner is appointed by which entity and confirmed by which body?
• Which statement best describes the role of a person who negotiates title insurance contracts but is not a licensed agent of an insurance company?
• Which of the following events would require notification within 30 days due to fiduciary funds?
• A title insurance company formed in a state other than Colorado is an example of what type of title insurer?
• In a warranty deed, who is the recipient of the title?
• What is the curative statute of a mechanic's lien?
• Pursuant to the form of commitment for title insurance in current use, the obligation there under is not intended to be in lieu of which of the following?
• The Commissioner reviews annual what filed by insurance companies?
• In ALTA/LTAC forms approved for use by title insurers, a real property security instrument identified on its face as a deed of trust is defined as what?
• Which activity is not prohibited for an insurance licensee?
• What is another name for a lender in the loan process?
• Which statement best describes the probate proceedings allowed under the Uniform Probate Code in Colorado?
• Under the Uniform Probate Code, the administration of the estate of a Colorado resident who died owning fee title to Colorado real property may be which proceedings?
• Which form of evidence of title does not insure against unmarketability of title?
• A broad power of attorney clause states 'to do and perform all and every act and thing what he could do with respect to any of my property'. Regarding title transfers, which statement is most accurate?
• For a standard violation of insurance law, what is the maximum penalty per violation?
• The Insurance Commissioner disseminates general information concerning which topic to the public?
• Which statement about homestead is false?
• A title company formed in a state other than Colorado is an example of:
• Which statement best describes condominium ownership?
• Which statement best describes the distinction between a commitment for title insurance and a policy of title insurance?
• Which item is required to record a conveyance of Colorado property?
• Which of the following is not an attribute of an insurance producer's license?
• Through the NAIC, state regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. This describes the NAIC's role as which of the following?
• If a corporation fails to file or record evidence of its powers with respect to real property in Colorado, what result occurs?
• The recital 'payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured' is most appropriately adapted for use in a
• A title search and examination must involve which two elements?
• What is true about unlicensed agents under Colorado law?
• Current title insurance policies indemnify against loss caused by which of the following defects, liens, encumbrances, or adverse claims?
• In a typical real estate loan, who is the lender?
• Not all disclosures are required on every title commitment issued for the sale of residential real property. Which statement describes this general principle?
• Which statement best reflects the effect of unpaid inheritance taxes under state law?
• For intentional violations, what is the total cap on penalties?
• In the metes and bounds description, which element must be located?
• Which policy form is typically used for construction loan financing?
• Which statement describes a required element when recording a conveyance of Colorado real property?
• In Colorado, if a wife signs a conveyance as attorney-in-fact for her husband who jointly owns the property, which statement is true?
• Which statement is NOT included in a Settlement Producer's scope?
• Which following activity is not prohibited?
• The Colorado Title Insurance Rating Bureau is a non-profit Colorado corporation organized on behalf of which group?
• For intentional violations, what is the penalty per violation?
• Under the documentary transfer tax rules, which statement is true?
• One duty of the Colorado Title Insurance Rating Bureau is to analyze the cost of doing business and determine what?
• Endorsements may be used only after what condition is met?
• What is the legal process of transferring property upon the death of a sole owner?
• Which of the following correctly describes a lot and a portion of a lot?
• Which statement about title insurance rates and regulation is true?
• Which Uniform Acts have been adopted for use in Colorado?
• Which policy type is specifically designed for construction loans?
• Which items are included within the permissible premium charged for a title insurance policy?
• In title insurance, the definition of land includes which of the following?
• The practice of giving a commission or other valuable thing by a title insurer or by its agent to an owner or to a mortgagee, or to any agent, representative, attorney, or employee of them, is:
• To record a conveyance of Colorado real property, which is required?
• Which statement is NOT TRUE?
• In which form of concurrent ownership is the right of survivorship a defining feature?
• Which rate is the judgment rate of interest?
• What phrase best describes a marketable title?
• To vest the estate after death in joint tenancy, which document is commonly recorded?
• For insurance purposes, title acquired by adverse possession will never be marketable unless
• Which grantors would have acquired fee title under a deed from an unmarried sole record owner conveying to Meredith and Derek?
• Which term is used to identify the lender in a real estate financing agreement?
• Which instrument is used to transfer ownership (vesting) of real property?
• If an instrument affecting title is recorded without proper acknowledgement, what is its effect on notice?
• Regarding title insurance, when a claim is paid, which statement is normally true?
• Which statements are true for an Owner's Title Policy?
• Which recital should owners and lenders always expect to be excluded from coverage in their title insurance policies?
• Which term describes insuring, guaranteeing, or indemnifying an owner of real property against loss due to liens or defects in title?
• An unlicensed agent is guilty of a misdemeanor and upon conviction is subject to both a fine and/or imprisonment. Which option best describes this penalty?
• In affiliated business arrangements, payments to the referring party must be disclosed on the closing statements.
• For title insurance purposes, reference to the Articles of Incorporation indicates what?
• Which entity regulates title insurance rates in the state where the company does business?
• Which of the following statements about the 30-day notification requirement for title insurers is correct?
• Which description best describes a Colorado condominium?
• In a Lot and Block Description, which element identifies the subdivided area?
• Which action is required when there is a change in address for an individual or agency insurance producer licensee?
• In a real estate loan, who receives the property as collateral to secure repayment?
• Which of the following is NOT a proper element in establishing a right to title by adverse possession?
• In which U.S. District Court office in Colorado may there be filed and kept the original records of a bankruptcy proceeding?
• Which statement is untrue?
• Under Colorado law, which item is included in title insurance rates?
• Which statement best describes a joint tenancy?
• The person who investigates or adjusts losses arising under insurance policies on behalf of the insurer or the insured is called?
• In most real estate loans, which party is the creditor providing loan funds?
• What does the prevailing title industry rate schedule adopted by the Colorado Title Insurance Rating Bureau establish?
• In an Owner and Encumbrance Report, which item identifies the last recorded owner?
• The Insurance Commissioner conducts which exams at least once every five years?
• A title commitment consists of which three components?
• What is the typical result of divorce on joint tenancy?
• A Title Insurance License allows one to write:
• Easements may be extinguished by: title decree against easement holder. This describes which method?
• Which statement about the authority of a notary public in Colorado is true?
• The state instituted litigation for acquiring title to a portion of real property; what is this action commonly referred to as?
• A notice of pendency for a mechanic's lien action must be recorded within how many months from the lien recording date?
• Which legal concept extinguishes an easement when it is not used for a statutory period?
• Under the Colorado documentary transfer tax, which statement is true?
• Which proposed name would comply with state law for the partnership name change to emphasize title insurance?
• Which statement about rate changes timing is true?
• What effect does a divorce decree have on a joint tenancy?
• Which action is used to take private property for public use?
• Which of the following items is included in the permissible premium described?
• Which policy is typically issued to lenders to insure their security interest?
• Which of the following is NOT an attribute of an insurance producer's license?
• Final Action by the Commissioner is subject to which type of review?
• Which lien is filed with the Secretary of State?
• In a tenancy in common, can co-owners hold different percentages?
• Under Colorado law, a foreign title insurance company may write insurance policies only if...
• Which of the following is NOT a community easement?
• What is the penalty for an insurance company using a policy that has not been approved?
• What document must title insurance companies obtain to transact business in the state?
• What year was LTG created and grandfathered in?
• Which item is NOT required to be disclosed to the Insurance Commissioner regarding affiliated business arrangements?
• Which of the following forms of evidence of title does not insure against unmarketability of title?
• Which statement correctly completes this sentence: The obligation of the issuing company under the current commitment is not intended to be in lieu of either policy?
• How long after a title insurance company files a new rate before it takes effect?
• Who legally acts as the representative of a title insurance company?
• In Colorado, a title insurance company cannot participate in the co-ownership and management of a title plant.
• The prevailing rate schedule adopted by the Colorado Title Insurance Rating Bureau is designed to establish which of the following?
• Which of the following defects, liens, encumbrances, or adverse claims do current title insurance policies indemnify against?
• The process used to transfer property after the death of a sole owner
• Which items are identified by an Ownership and Encumbrance Report (O&E)?
• In a scenario where an unmarried record owner executed a deed to San Francisco and later a quit claim deed to the same property is recorded in Douglas County, which statement is true?
• In the context of a mortgage, which party is the lender who supplies funds?
• The Bureau's duties include which actions regarding rules for the administration of the title insurance business?
• Which schedule contains CC&Rs, in the context of title commitments?
• What is the penalty described for a title insurer using an unapproved policy?
• Which term designates the lender in a mortgage agreement?
• Who is the party that holds the lien on the property until the loan is repaid?
• Who confirms the appointment of the Insurance Commissioner?
• Which of the following is an encumbrance on title rather than a lien on title?
• Which statement BEST describes a Settlement Producer?
• Which method extinguishes an easement by a court action that resolves title against the easement holder?
• Which statement about title insurance indemnification is correct?
• This is an example of what when a real estate agent asks for business cards without a charge?
• The rates charged for title insurance are regulated by:
• Which of the following is included in title insurance rates under Colorado law?
• Which statement about temporary licenses is true?
• An evidence of title that assures the insured land abuts upon a physically open street is characteristic of
• In a loan secured by property, who has the security interest in the property?
• In practice, who typically makes the initial request to obtain an agent's license?
• In an affiliated business arrangement, compensation to the agent who refers business is allowed only in what form?
• Which of the following best describes the description 'N1/2 of Section 18, Township 4 South, Range 67 West'?
• You are approached by a real estate agent to supply business cards to them without charge. This is an example of what?
• The Colorado Title Insurance Rating Bureau serves as a ______ ______ agency to the Insurance Commissioner concerning title insurance matters.
• Which form of concurrent ownership allows a deceased co-owner's interest to pass to their estate?
• No title insurance commitment or endorsement is authorized for use unless which condition is met?
• The Insurance Commissioner supervises which area of the insurance regulation?
• Which schedule in the title commitment contains CC&Rs, for quick reference?
• Insurance against loss the insured may sustain by reason of any incorrectness in the assurance the company gives that, except as shown in Schedule B, there are no present violations on said land of any enforceable covenants, conditions, or restrictions, is afforded in which form of evidence of title?
• Which document below is recorded in the land of records?
• Which statement best describes the curative statute period for a mechanic's lien?
• In which conveyance was a valid joint tenancy not created?
• A Colorado statute requires the street address on all conveyances of real property where the property has a street address. What is the consequence of failing to include the street address?
• The 15-year term for deeds of trust is measured from which date?
• Which statement is true about the definition of land in title insurance?
• Which term best describes insuring against liens and defects in title?
• Which form of evidence of title is an endorsement to ALTA lender's policy?
• Paying agents to fly to a golf destination would be an example of which concept?
• In a tenancy in common, which statement is true about ownership?
• What is the approved manner in which a title insurer is supposed to write over, or insure through, record encumbrances or defects in title?
• What type of penalty is imposed for violation of insurance law?
• Tenants in Common: If a deed does not specify a tenancy and there are two or more grantees, which tenancy is presumed by law?
• Which item is included within the permissible premium charged for a policy of title insurance?
• A typed last will and testament of a person over the age of 18 years and a resident of Colorado is required to be subscribed to by at least how many witnesses?
• How many sections are in a township?
• An insurance producer is entitled to notice and a hearing prior to enforcement.
• In a scenario where an acknowledgment of a deed of trust was made by a notary public in one county while the deed is recorded in another, which statement is true?
• What is the role of the Colorado Title Insurance Rating Bureau as it relates to rate schedules?
• A UCC-1 financing statement is part of which regulatory framework?
• What does the acronym O&E stand for in title practice?
• Which statement best describes title insurance?
• Which penalty applies to an unlicensed agent who represents a title insurance company?
• Which document is not a document that will be recorded in the land records?
• What is the maximum monetary loss or damage a title insurer is liable for under a policy (including costs, attorney's fees, and expenses)?
• Which form of title evidence provides protection from loss due to the superior priority of a statutory lien for labor or materials?
• The failure of a corporation to file or record in every county evidence of its powers results in what legal effect?
• Who normally requests the agent's license?
• Which disclosure is not required on every title commitment issued for the sale of residential real property?
• Which statement is true about redemption after foreclosure?
• Subrogation is defined as what?
• Which of the following is a standard form of evidence of title?
• A charitable donation by a title entity must be made directly to the charitable organization. This statement is:
• Easements may be extinguished by: abandonment (non-use) use. This describes which method?
• Which statement is correct about the components of a permissible title insurance premium?
• Under the current commitment form, the obligation is not intended to replace either the ALTA Owner's Policy or the ALTA Lender's Policy. Which statement best reflects this?
• A certificate of taxes due should be obtained from which source?
• A general federal tax lien against an owner of real property is valid as a secret lien against which persons?
• The State Exam refers to CCRs listed in Schedule B2 as what type of exception?
• Easements may be extinguished by: express release, such as executing a quit claim deed. This statement describes which method?
• In a secured real estate loan, which party holds the security interest in the property?
• Which document identifies CC&Rs within a title commitment?
• The Insurance Commissioner conducts which type of exams as often as the Commissioner deems appropriate?
• When issuing an Owner's Policy, the schedule of title insurance rates applies to the fair value of the property insured, which is which?
• Which document would be used to transfer property with covenants of title?
• A UCC-1 financing statement is filed with which office?
• If title is held as Angela & Bob 50% as joint tenants, Chuck 25%, and David 25%, and Chuck dies, Angela holds what percent?
• In each of the following deeds, which grantee is properly identified as a person acting in a representative capacity?
• Which endorsement is designated as PNTI 300 Endorsement?
• In how many business days must a title entity responsible for closing record the documents?
• Who is the lender in a mortgage agreement that secures the loan with property?
• When a seller holds title in a leasehold interest, which of the following is true?
• What is remuneration?
• Which instrument is used to transfer title to real property?
• Which statement is true about an acknowledgement on a deed signed by an attorney-in-fact for a spouse?
• O&E stands for which of the following in title terminology?
• A person who is not a licensed agent of an insurance company, but who negotiates contracts for title insurance, is called:
• In real estate finance, which role receives the property as collateral?
• Which term completes the phrase 'suspend, ________, or refuse to issue' in the Commissioner’s authority?
• Which of the following activities is NOT PROHIBITED?
• Which item is NOT typically identified in an Ownership and Encumbrance Report (O&E)?
• Which statement about the Colorado Insurance Commissioner is false?
• For the tax assessment lien to be valid against a purchaser located in Larimer County, where must a notice be filed?
• To be valid against a purchaser of personal property in Larimer County, where must a notice of tax delinquency be filed?
• The Insurance Commissioner adopts rules to ensure which two characteristics of the insurance marketplace?
• The recital about lack of priority of the lien of the insured mortgage because the loan proceeds may not have been fully disbursed at the date of policy is most appropriately included in which ALTA policy?
• The Insurance Commissioner is the head of which unit within the regulatory structure?
• The page that states the owner's policy type being issued is Schedule A & Fee Page. Which option lists that phrase?
• Which term describes money paid to influence decisions or actions in real estate transactions?
• Who normally requests a title insurance agent's license?
• Which statement is NOT true regarding controlled business means?
• Deeds of Trust with no due date have a term of how many years from date of recording?
• Which statement about agency authority in title insurance is true?
• Which item would be included in a Lot and Block Description?
• Which individuals associated with a title insurance company is required to be licensed as an insurance agent?
• Which statement best describes a Quit Claim Deed?
• Where on the title commitment would you find the listed title requirements?
• Which statement best describes a title commitment?
• Which statement about Colorado foreclosure is true?
• A title insurer would be considered foreign if it is formed in which jurisdiction?
• Included within the permissible premium charged for a policy of title insurance are the following?
• Easements may be extinguished by: dominant/servient tenement owned by the same person. This describes which method?
• Which statement is true regarding bankruptcy?
• Which statement describes the survivorship principle in joint tenancy?
• The transfer of title to water rights is governed by which set of requirements?
• Which term describes a modification to a title policy that is specifically filed?
• Rates would be considered excessive if which condition existed?
• Which document contains the recital "payment to or for the account of the mortgagor of the full consideration for the estate or interest or mortgage to be insured"?
• The following recital would be most appropriately included in which title insurance policy? 'This policy does not insure against loss or damage by reason of the refusal of any person to purchase, lease, or lend money on the property, estate, or interest described in Schedule A.'
• What is the curative statute of a deed of trust that has no majority date listed?
• Is a death certificate for a deceased joint tenant required to complete the chain of title?
• A title insurance company is prohibited from...
• Who issues agents' licenses to represent a nationwide business conducting business in Colorado?
• When a seller holds title in a leasehold interest, which statements are true?
• A fee to wire proceeds funds would be considered what kind of fee?
• Which item is most appropriately described as Endorsement to a Policy?
• Which statement best explains the purpose of licensing insurance agents?
• What is the simplest method for vesting of a marketable title after John's death in a joint tenancy with Jane?
• Upon death of a resident, title to real property in the state is subject to which of the following?
• Under the state inheritance and succession tax statutes, which statement is true?
• Which of the following disclosures may appear on a residential title commitment?
• Which action would require notification to the Division within 30 days due to fiduciary funds?
• A person's interest in the property is limited for a specific period of time. This describes which type of property interest?
• Under CRS 31-15-401 (c) City Liens (cannot be foreclosed out) term is?
• Which part indicates the type of owner's policy being issued?
• O&E stands for Ownership and Encumbrance Reports. Which is a correct expansion?
• What is the total cap on penalties for standard violations?
• Which policy type is typically issued to protect a lender's interest in real property?
• Under CRS 38-35-106 Acknowledgement (Defective) the valid years are?
• The solicitation, negotiation, and execution of an insurance contract is a definition of which term?
• Which activity is NOT prohibited, according to the policy described?
• What is required on the deed to create a valid joint tenancy?
• Certificates of Authority to title insurance companies permit them to transact insurance business in which contexts?
• Which combination describes the points necessary for a good metes and bounds legal description?
• Under Regulation 8-1-3, within how many calendar days must the final title policy be issued after closing?
• Under a lender's policy, the insurer's liability ends when the insured's interest ceases.
• What is the meaning of 'Lots 1, 2, 3, 4, 5, AND 6'?
• In a mortgage transaction, which party provides financing for the purchase?
• In a priority dispute between a deed recorded in one county and a later deed recorded elsewhere, which statement is true?
• Does a vesting deed need to reflect joint tenancy?
• The Commissioner conducts examinations and what other enforcement activity?
• In a title commitment, the notification of gap coverage should be presented in what manner?
• Which method extinguishes an easement by abandonment of non-use?
• A temporary agent's license is issued to an applicant. Which of the following is true?
• A title entity issuing a policy is required to preserve and maintain a copy for how long from recording the deed?
• Which estates are not subject to all the rights normally attributed to real property?
• What type of penalty may be assessed?
• Under the documentary transfer tax rules, which statement is true?
• The warehouse can be sold separately from the land and removed therefrom to satisfy liens.
• A mechanic's lien must be filed for record within how many days after completion?
• What may be ordered to be paid from an insurance producer?
• The act of insuring, guaranteeing, or indemnifying an owner of real property against loss or damage due to liens and encumbrances, defects in, or unmarketability of title is called what?
• Which option describes the penalty for an unlicensed agent acting as the representative of a title insurance company?
• To hold a title insurance company liable for the acts of one of its agents, which statement is true?
• In any Colorado county other than Denver, filing of a petition in bankruptcy will not constitute constructive notice unless there is recorded what?
• Who normally initiates the process to obtain an agent's license?
• An instrument affecting the title to real property recorded without being acknowledged imputes notice to all persons and is deemed to have been properly acknowledged upon expiration of how many years from the date of execution?
• Which is a special lien?
• Which method can extinguish an easement if the property is destroyed?
• What is the penalty applicable to an insurance company using a policy that has not been approved?
• What is the best definition of a marketable title?
• Which of the following can transfer property?
• Which statement about temporary licenses issued to agents by the Commissioner of Insurance is correct?
• Where on the title commitment may you find the underwriter's name?
• A charitable donation may be made by a title entity if:
• Rates are effective for how long once filed?
• Where on the title commitment would you locate the legal description?
• What is the penalty for an insurance agent who procures payment by fraudulent representations?
• In Colorado, claims against a decedent are subject to a curative statute of how many years?
• Which statement about the consumer disclosure regarding interest earnings is true?
• On a title commitment, where are the CC&Rs located?
• In the context of Owner's Title Policy, which statement is true?
• Which of the following is a characteristic of joint tenancy?
• Which form of evidences of title contains no printed exceptions in Schedule B?
• In Colorado, an instrument affecting title to real property that is recorded without proper acknowledgment imputes notice to all persons after what event?
• When must the Commissioner be notified after a change of address by an individual licensee or agency licensee?
• Where on the title commitment would you find the insurer's liability to the lender listed?
• In a tenancy in common, what happens to the interest of a deceased co-tenant?
• What is the statute of limitations for deeds of trust with a due date?
• The Commissioner examines all requests and which other form for licenses?
• Pursuant to the current form of commitment for title insurance, the obligation under it is not intended to be in lieu of which of the following?
• Which of the following are deeds of conveyance? (May be one or more answers)
• An evidence of title that ensures the foundation of a building on land is within the land's boundaries is most appropriately contained in:
• Which statements are characteristic of a lender's policy? (Choose one or all that apply)
• The National Association of Insurance Commissioners (NAIC) is created and governed by whom?
• A duly executed power of attorney appoints an agent with express authority to act 'in respect to any of my property'. Which acts should not be relied upon for title insurance purposes?
• For a typewritten Last Will and Testament of a person over 18 who is a resident of Colorado, which requirement is necessary?
• Which of the following are referred to as encumbrances on title rather than liens on title?
• What is meant by 'Lots 1 to 6 inclusive'?
• Pursuant to the current form of commitment for title insurance, the obligation of the issuing company is:
• Which individuals associated with a title insurance company are required to be licensed as an insurance agent?
• Which document is used to outline the terms under which title insurance will be issued?
• Which party is the lender who funds the purchase in a mortgage transaction?
• Which document is typically recorded in land records, based on standard practice?
• The State of Colorado instituted litigation to acquire title to a portion of real property. What is the nature of this action generally called?
• Which policy type would typically protect an owner's interest in real property?
• What does the prevailing title industry rate schedule establish?
• In a case where a deed dated February 1, 1977 was recorded in March 10, 1977, and a later San Francisco quitclaim deed was recorded three days after, which statement is true?
• Who is the grantee in a warranty deed?
• The Colorado Title Insurance Rating Bureau is which type of organization?
• Where on the title commitment would you find the title defects?
• What funds cannot be commingled?
• Which option best completes the sentence: An evidence of title is most appropriately described as what?
• Who is responsible for the acts of its authorized agents in title commitments for residential property sales?